Motor racing-Lotus blame bank transfer for tyre delay

BUDAPEST, July 24 (Reuters) - The Lotus Formula One team blamed a banking technicality for a delay in Pirelli releasing tyres to them ahead of first Hungarian Grand Prix practice on Friday.

The team received their tyres less than an hour before cars went out on track at the Hungaroring.

Lotus deputy team principal Federico Gastaldi told Reuters there had been "a problem with the money" but blamed complications in the bank transfer system.

Pirelli said the situation had been resolved and would not comment on the details.

"Everything is totally fine now," said a spokesman.

Venezuelan Pastor Maldonado, who was still in the team hospitality when the first session started, and reserve driver Jolyon Palmer both appeared on track about half an hour into practice once the tyres had been prepared and warmed.

Lotus faced a winding-up petition brought by creditors earlier this month, although the matter was resolved out of court.

The British-based team, once owned by Renault and now racing with Mercedes engines, have had financial problems although the signing of Maldonado has brought considerable backing from state oil company PDVSA.

The team's chief executive Matthew Carter has said repeatedly that Lotus are not for sale despite persistent paddock speculation linking them to a possible Renault takeover. (Editing by Sudipto Ganguly)